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Company prepares for initial drill program targeting high-priority uranium anomalies following financing and 2025 strategic milestones
ReeXploration Inc. (TSXV: REE) (FSE: K2I0) ("ReeXploration" or the "Company") is pleased to announce that the 2026 uranium exploration drill program at its flagship Eureka Project in Namibia is fully funded and moving into the execution phase. With capital in place and detailed drill planning underway, the Company is preparing to advance a targeted drill program designed to test high-priority uranium anomalies defined during its 2025 work programs.
"2025 was a pivotal year for ReeXploration. With drill financing now complete, our focus has shifted decisively to execution," stated Christopher Drysdale, Interim Chief Executive Officer of ReeXploration. "The uranium targets we have defined at Eureka are technically compelling, located in one of the world's premier uranium districts, and ready to be tested. 2026 is about drilling and results, and we believe this program has the potential to materially expand the scale and strategic relevance of the Eureka Project."
During the second half of 2025, ReeXploration expanded the scope of the Eureka Project beyond rare earth elements through the identification and refinement of multiple high-priority uranium targets. These targets are located within one of the world's premier uranium provinces and are supported by coherent radiometric and geochemical anomalies consistent with large, intrusion-related uranium systems. Based on the results of this work, the targets are now considered drill-ready and form the primary focus of the Company's initial 2026 exploration program.
2025: A Year of Strategic Progress
Key milestones achieved in 2025 include:
Closed two private placements in the Fall of 2025, raising $1.95 million to fund ongoing and upcoming exploration activities, including $1.0 million in December required to advance near-term exploration objectives and initiate uranium drilling.
Completion of the Company's rebrand to ReeXploration, reflecting a sharpened focus on critical minerals aligned with global energy security and supply-chain diversification.
Identification and confirmation of a large-scale drill-ready uranium target at Eureka through field programs, geophysics, and geochemical analysis.
Expansion of the broader uranium target footprint, reinforcing the project's multi-commodity potential alongside its established rare earth element foundation.
These developments collectively repositioned Eureka as a dual-commodity critical minerals project, pairing a rare earths system with a compelling uranium exploration opportunity. Further updates will be provided as exploration activities progress.
Qualified Person
Tolene Kruger, BSc. (Hons), M.Sc., is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Ms. Kruger is registered as Professional Natural Scientist (Pr.Sci.Nat.) with the South African Council for Natural Science Professions (SACNASP, Reg. No.: 148182), and a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Ms. Kruger is not independent of the Company under NI 43-101.
About ReeXploration Inc.
ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration company positioned to help meet surging global demand for secure, responsible supplies of critical minerals essential to the clean energy transition, advanced technologies and national defense. The Company's flagship Eureka Project in central Namibia pairs a technically proven rare earth foundation - supported by the production of a clean monazite concentrate - with a newly defined, high-priority uranium target located within one of the world's most established uranium corridors. Together, these commodities provide multi-path discovery potential aligned with accelerating global efforts to diversify critical mineral and nuclear fuel supply. Supported by a Namibia-based technical team and guided by global critical minerals experts, ReeXploration is advancing a disciplined, discovery-led strategy, building a credible, ESG-aligned platform positioned to benefit from the global race to diversify and secure responsible supply chains.
Caution Regarding Forward-Looking Information
This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. ReeXploration does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to ReeXploration. Additional information identifying risks and uncertainties is contained in the filings made by ReeXploration with Canadian securities regulators, which filings are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further details are available on the Corporation's website at www.rareearthexploration.com or contact Christopher Drysdale, Interim CEO of ReeXploration Inc., at +1 902-334-1949, contact@rareearthexploration.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280234
